HHS addresses rising specialty costs in day-long forum
WASHINGTON — The Department of Health and Human Services on Friday held a day-long "Pharmaceutical Forum" to discuss how to mitigate the high and growing cost of drugs that has created hardship for families, employers and states, especially with regard to specialty medicines. Specialty medications represent only 1% of all prescriptions but, in 2014, these medications resulted in over 31% of all drug spending.
Secretary Sylvia Burwell is asking stakeholders to share information as to how to address this complex problem. The forum will bring together consumers, providers, employers, manufacturers, health insurance issuers, representatives from state and federal government and other stakeholders to share information and discuss ideas to increase access to information, drive innovation, strengthen incentives and promote competition.
“Generic drugs are an absolutely essential part of controlling health costs and ensuring the sustainability of the U.S. health system," commented Chip Davis, president and CEO for the Generic Pharmaceutical Association. "Today’s HHS Pharmaceutical Forum is another opportunity for policymakers to support measures that expand patient access to these affordable medicines and increase savings and competition in the pharmaceutical marketplace," he said. "Policymakers should focus their attention on solutions that increase pharmaceutical competition and bring more generic medicines to Americans in a safe and timely manner, rather than attempting to address outlier practices through sweeping changes, many of which could have serious unintended consequences for patients."